Report: Xerox Makes Offer to Take Over HP

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Xerox has made an offer to take over HP, CNBC reports. That's confirmation of a Wall Street Journal story suggesting the same. The offer consists of cash and stock.

The move would bring together two computing giants. Xerox is currently known for its printers and copiers, including renting and servicing them to businesses. HP is one of the world's biggest PC manufacturers and is known for consumer printers and peripherals. (Hewlett-Packard Enterprise, or HPE, is a separate company that was split from HP and includes servers and storage for enterprise).

Representatives from both companies didn't immediately respond to requests for comment, but we will update this story if they reply. HP told CNBC that it "doesn't comment on rumors."

Xerox's market cap is $8.05 billion, per CNBC, far less than HP's market value of $27.3 billion.

Enrique Lores started as CEO at HP on November 1, after former chief executive Dion Wiesler stepped down because of family health issues. In October, HP announced it would cut up to 16% of its workforce to cut costs.